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What is the function of finding new business opportunities by an entrepreneur?

Answer and explanation

Correct answer: Opportunity identification

The function of finding and recognising new business possibilities is called opportunity identification. An entrepreneur identifies possible business ideas by observing unmet customer needs, market changes, or new problems. Risk management is about reducing or handling risks, not finding opportunities. Exam tip: If the question mentions finding a new opportunity or identifying a business idea, choose opportunity identification.

Related tags

EntrepreneurshipOpportunity IdentificationEntrepreneurial SkillsBusiness OpportunitiesClass 9Qualities And Functions Of An EntrepreneurEntrepreneurial Skills IArtificial Intelligence

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